Steel Connect, Inc. (STCN) financial statements (2020 and earlier)
Company profile
| Business Address |
1601 TRAPELO ROAD WALTHAM, MA 02451 |
| State of Incorp. | DE |
| Fiscal Year End | July 31 |
| SIC | 7389 - Business Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 1/31/2020 TTM | 7/31/2019 | 7/31/2018 | 7/31/2017 | 7/31/2016 | 7/31/2015 | 7/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments, including: | 30 | 33 | 92 | 123 | 148 | 198 | 206 | ||
| Cash and cash equivalents | 30 | 33 | 92 | 111 | 131 | 119 | 184 | ||
| Short-term investments | 12 | 17 | 79 | 23 | |||||
| Other undisclosed cash, cash equivalents, and short-term investments | 0 | (0) | |||||||
| Receivables | 118 | 112 | 99 | 81 | 111 | 131 | 124 | ||
| Inventory, net of allowances, customer advances and progress billings | 24 | 24 | 48 | 34 | 40 | 49 | 65 | ||
| Inventory | 24 | 24 | 48 | 34 | 40 | 49 | 65 | ||
| Funds held for clients | 16 | 14 | |||||||
| Deposits current assets | 12 | 13 | 13 | 22 | |||||
| Other undisclosed current assets | 35 | 31 | 13 | 6 | 8 | 14 | 10 | ||
| Total current assets: | 224 | 213 | 264 | 258 | 320 | 414 | 406 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 62 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 90 | 91 | 107 | 19 | 22 | 23 | 25 | ||
| Long-term investments and receivables | 7 | ||||||||
| Long-term investments | 7 | ||||||||
| Intangible assets, net (including goodwill) | 405 | 420 | 447 | 4 | |||||
| Goodwill | 257 | 257 | 254 | 3 | |||||
| Intangible assets, net (excluding goodwill) | 148 | 163 | 193 | 1 | |||||
| Other noncurrent assets | 8 | 7 | 9 | 5 | 7 | 10 | 10 | ||
| Total noncurrent assets: | 565 | 518 | 563 | 23 | 29 | 33 | 46 | ||
| TOTAL ASSETS: | 789 | 732 | 827 | 281 | 349 | 447 | 452 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 196 | 199 | 167 | 109 | 152 | 159 | 145 | ||
| Accounts payable | 86 | 86 | 78 | 71 | 114 | 120 | 105 | ||
| Accrued liabilities | 110 | 113 | 88 | 38 | 38 | 39 | 40 | ||
| Employee-related liabilities | 0 | ||||||||
| Deferred revenue | 4 | 3 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 21 | 12 | 6 | 4 | |||||
| Restructuring reserve | 0 | 0 | 3 | 2 | 2 | ||||
| Customer advances and deposits | ✕ | ✕ | ✕ | 13 | 22 | ||||
| Other liabilities | 36 | 39 | 42 | 26 | 40 | 51 | 52 | ||
| Other undisclosed current liabilities | 12 | 5 | 76 | (22) | (4) | ||||
| Total current liabilities: | 268 | 257 | 291 | 149 | 195 | 211 | 199 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 414 | 369 | 383 | 60 | 58 | 78 | 73 | ||
| Long-term debt, excluding current maturities | 366 | 369 | 383 | 60 | 58 | 78 | 73 | ||
| Finance lease, liability | 0 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Operating lease, liability | 48 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 10 | 18 | 11 | 9 | 10 | 20 | 13 | ||
| Deferred revenue | 0 | 0 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Deferred tax liabilities, net | ✕ | ✕ | 1 | 1 | |||||
| Liability, pension and other postretirement and postemployment benefits | 7 | 6 | 4 | ||||||
| Restructuring reserve | 0 | 0 | |||||||
| Other liabilities | 10 | 11 | 11 | 9 | 10 | 13 | 8 | ||
| Other undisclosed noncurrent liabilities | 8 | 0 | (7) | (5) | |||||
| Total noncurrent liabilities: | 432 | 387 | 394 | 69 | 68 | 91 | 81 | ||
| Total liabilities: | 700 | 644 | 684 | 218 | 263 | 302 | 280 | ||
| Temporary equity, carrying amount | 35 | 35 | 35 | ||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 54 | 53 | 108 | 63 | 86 | 145 | 172 | ||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Additional paid in capital | 7,478 | 7,477 | 7,468 | 7,457 | 7,456 | 7,452 | 7,451 | ||
| Accumulated other comprehensive income | 2 | 1 | 3 | 4 | 2 | 4 | 14 | ||
| Accumulated deficit | (7,426) | (7,426) | (7,364) | (7,399) | (7,373) | (7,312) | (7,293) | ||
| Total stockholders' equity: | 54 | 53 | 108 | 63 | 86 | 145 | 172 | ||
| TOTAL LIABILITIES AND EQUITY: | 789 | 732 | 827 | 281 | 349 | 447 | 452 | ||
Income statement (P&L) ($ in millions)
| 1/31/2020 TTM | 7/31/2019 | 7/31/2018 | 7/31/2017 | 7/31/2016 | 7/31/2015 | 7/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 839 | 820 | 645 | 437 | 459 | 562 | 723 | |
| Revenue, net | ✕ | ✕ | ✕ | 437 | 459 | 562 | 723 | |
| Cost of revenue | (676) | (670) | (544) | (400) | (434) | (507) | (649) | |
| Gross profit: | 163 | 150 | 101 | 36 | 25 | 54 | 75 | |
| Operating expenses | (173) | (175) | (110) | (56) | (65) | (69) | (80) | |
| Operating loss: | (9) | (25) | (8) | (20) | (41) | (14) | (5) | |
| Nonoperating expense | (33) | (37) | (27) | (5) | (16) | (2) | (6) | |
| Investment income, nonoperating | 5 | 5 | 3 | 4 | (5) | 15 | 0 | |
| Foreign currency transaction gain (loss), before tax | 2 | (0) | ||||||
| Interest and debt expense | (38) | (42) | (30) | (8) | (11) | (11) | (5) | |
| Other undisclosed income from continuing operations before equity method investments, income taxes | 38 | 42 | 30 | 8 | 11 | 11 | 5 | |
| Loss from continuing operations before equity method investments, income taxes: | (42) | (62) | (35) | (24) | (57) | (16) | (12) | |
| Income (loss) from equity method investments | 0 | 0 | 1 | 1 | 0 | (0) | ||
| Loss from continuing operations before income taxes: | (42) | (62) | (34) | (24) | (56) | (16) | (12) | |
| Income tax expense (benefit) | (5) | (5) | 71 | (3) | (5) | (2) | (5) | |
| Net income (loss): | (46) | (67) | 37 | (27) | (61) | (18) | (16) | |
| Other undisclosed net income attributable to parent | 1 | 0 | ||||||
| Net income (loss) attributable to parent: | (46) | (67) | 37 | (26) | (61) | (18) | (16) | |
| Preferred stock dividends and other adjustments | (2) | (2) | (1) | |||||
| Net income (loss) available to common stockholders, basic: | (48) | (69) | 35 | (26) | (61) | (18) | (16) | |
| Dilutive securities, effect on basic earnings per share | 1 | |||||||
| Other undisclosed net income available to common stockholders, diluted | 8 | |||||||
| Net income (loss) available to common stockholders, diluted: | (47) | (69) | 44 | (26) | (61) | (18) | (16) | |
Comprehensive Income ($ in millions)
| 1/31/2020 TTM | 7/31/2019 | 7/31/2018 | 7/31/2017 | 7/31/2016 | 7/31/2015 | 7/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (46) | (67) | 37 | (27) | (61) | (18) | (16) | |
| Other comprehensive income (loss) | (1) | (2) | (2) | 2 | (1) | (10) | 0 | |
| Comprehensive income (loss): | (48) | (68) | 35 | (25) | (63) | (29) | (16) | |
| Other undisclosed comprehensive income, net of tax, attributable to parent | 1 | 0 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (48) | (68) | 35 | (24) | (63) | (29) | (16) | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.